FineMark National Bank & Trust acquired a new position in shares of Assured Guaranty Ltd. (NYSE:AGO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,854 shares of the financial services provider’s stock, valued at approximately $259,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Assured Guaranty by 962.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after buying an additional 3,850 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Assured Guaranty by 11.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 539 shares in the last quarter. Quantum Capital Management acquired a new position in shares of Assured Guaranty during the second quarter worth $218,000. Zweig DiMenna Associates LLC acquired a new position in shares of Assured Guaranty during the second quarter worth $288,000. Finally, Sawtooth Solutions LLC lifted its position in shares of Assured Guaranty by 7.4% during the second quarter. Sawtooth Solutions LLC now owns 7,181 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 96.99% of the company’s stock.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.51. The business had revenue of $623.00 million for the quarter, compared to the consensus estimate of $262.09 million. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. Assured Guaranty’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $3.74 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be paid a $0.142 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.57 annualized dividend and a dividend yield of 1.46%. Assured Guaranty’s payout ratio is 6.46%.
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A number of research firms have recently commented on AGO. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. UBS AG reissued a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. BidaskClub cut shares of Assured Guaranty from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, BTIG Research reissued a “buy” rating and set a $49.00 target price on shares of Assured Guaranty in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $47.00.
Assured Guaranty Profile
Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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